Credit Accep Corp Mich SEC Filings

Credit Acceptance Corp. (CACC) Form 144 filing: The Jill Foss Watson Living Trust intends to sell up to 40,000 common shares through UBS Securities on or after 29 Jul 2025. Based on the stated aggregate market value of $20.65 million, the implied price is about $516 per share. The planned sale equals roughly 0.34 % of CACC’s 11.60 million shares outstanding.

The trust acquired the shares in 2011 via a GRAT remainder transfer. During the past three months it already sold 20,000 shares (2 Jul 2025) for $15.87 million. The signatory affirms no undisclosed adverse information exists.

• Class: Common stock
• Broker: UBS Securities LLC, NYC
• Planned exchange: NASDAQ

The notice does not alter corporate fundamentals but signals ongoing insider liquidity activity that investors may monitor for sentiment clues.

Form 4 filing overview (CACC – 7/2/2025): 10% owner Jill Foss Watson, trustee of the Jill Foss Watson Living Trust, executed a series of open-market sales totaling 20,000 shares of Credit Acceptance Corp. common stock on 2 July 2025. The shares were sold in ten separate blocks at weighted-average prices ranging from $535.87 to $546.28 per share. After completion of the transactions, the trust’s direct beneficial ownership fell from 122,107 shares (implied) to 102,107 shares.

The transaction generated gross proceeds of roughly $10.8 million (20,000 × ≈$540). Footnote 2 notes a non-cash transfer of 30,180 shares into the Living Trust since the prior Form 4, which did not affect the reporter’s pecuniary interest. No derivative securities were involved, and the filing was made by a single reporting person. The sales reduce the insider’s stake by about 16%, which investors often view as a potential bearish signal, especially when conducted by a >10% holder.

The Schedule 13D/A (Amendment No. 13) discloses the updated equity positions of the Prescott investment entities and related individuals in Credit Acceptance Corporation (NASDAQ: CACC) as of 7 July 2025. Based on the issuer’s 11,603,475 outstanding shares (Form 10-Q filed 30 Apr 2025), Prescott General Partners LLC ("PGP") remains the largest holder in the group with 1,436,951 shares, or 12.4% of CACC’s common stock. Prescott Associates L.P. directly owns 911,132 shares (7.8%), while Prescott Investors Profit Sharing Trust holds 41,437 shares (0.4%). Individually, co-founder Thomas W. Smith reports 662,295 shares (5.7%) and director Scott J. Vassalluzzo reports 68,158 shares (0.6%). Combined, the managed accounts referenced in the filing control 1,576,044 shares, underscoring the group’s continued double-digit influence.

The amendment was triggered by a 42,329-share in-kind distribution by Prescott Associates on 2 Jul 2025 to satisfy a limited-partner withdrawal, valued at $509.43 per share. Funding for historical purchases totaled $20.46 million, sourced mainly from Prescott Associates ($9.54 million), Prescott Investors Profit Sharing Trust ($0.36 million), and personal funds from Smith ($8.25 million) and Vassalluzzo ($0.99 million). While the group affirms it may engage management or other shareholders to enhance value, it states no current plans to pursue corporate actions enumerated in Item 4 (e.g., mergers, board changes). Future buying or selling will depend on market conditions and alternative opportunities.

• Key stakes: PGP 12.4%, Prescott Associates 7.8%, Smith 5.7%, cumulative managed accounts 13.6%.
• Recent activity: 42,329-share distribution reduced Prescott Associates’ stake marginally.
• Potential activism: Group reserves right to discuss strategic options but disclaims any formal proposals at this time.